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will congress pass something in the next 48 hours, something to avoid the fiscal cliff? >> i don't know. but i guess probably. and it will be a bad deal but i suppose better than doing nothing. amazing every working american's taxes will go up on january 1. they are doing nothing about the payroll tax which is a big increase, 2%. and we will have totally irresponsible defense cuts. everybody agrees this is probably bad policy to have middle class americans taxes go up and this is what congress thinks is a good deal. >> chris: i'm not sure they think it is a good deal but a deal that avoids the worst of the fiscal cliff. senator bayh, obviously we don't know what is your sense? no filibuster in the senate. you heard what lindsey graham said and do republicans pass whatever it is that the senate agrees to? >> i think the odds are some what better than 50/50, chris, that we get a minimal deal in the senate. not one that solves our debt problem as you pointed out earlier and this is all just a prequel to going over this again around the first of march over the debt ceiling.
will congress pass something in the next 48 hours, something to avoid the fiscal cliff? >> i don't know. but i guess probably. and it will be a bad deal but i suppose better than doing nothing. amazing every working american's taxes will go up on january 1. they are doing nothing about the payroll tax which is a big increase, 2%. and we will have totally irresponsible defense cuts. everybody agrees this is probably bad policy to have middle class americans taxes go up and this is what...
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will congress pass something in the next 48 hours, something? to avoid the fiscal cliff? >> i don't know. but, i guess, probably. and it will be a bad deal but i suppose better than doing nothing. and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, no filibuster in the senate? you heard lindsay graham and do republicans pass whatever the senate agrees to? >> the odds are somewhat better than 50/50 we get a minimal deal in the senate. not one that solves our debt problem, as you pointed out earlier and this is a prequel to going through it again around the first of march over the debt ceiling and getting us through this crisis, slightly better than 50-50 and the real que
will congress pass something in the next 48 hours, something? to avoid the fiscal cliff? >> i don't know. but, i guess, probably. and it will be a bad deal but i suppose better than doing nothing. and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress...
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falls off the fiscal cliff next week. >>> investors are bracing for the final eurozone bond sale of the year. italy will sell up to 6 billion later today. >> and the yen has been sent lower and stocks to their highest level in 21 months. >>> this is the final "worldwide exchange" from london of the year. louisa is here for it. >> i can't believe it. it's my last working day of the year, as well. >> is it? >> yes. >> unfortunately we'll still be talking about the same thing we're talking about now. >> although i feel we'll be talking more debt ceiling, as well. >> and speaking of which, president obama is trying a last ditch effort to restart budget talks days before the u.s. goes over the fiscal cliff. speaker john boehner has called the house back into session sunday evening. house majority leader eric cantor is telling his members to be prepared to work through january 2nd. both sides are still far apart on taxes and spending cuts. harry reid says prospect deals by monday are unlikely. minority leader mitch mcconnell says there's still time for an agreement. >> republicans aren't like
falls off the fiscal cliff next week. >>> investors are bracing for the final eurozone bond sale of the year. italy will sell up to 6 billion later today. >> and the yen has been sent lower and stocks to their highest level in 21 months. >>> this is the final "worldwide exchange" from london of the year. louisa is here for it. >> i can't believe it. it's my last working day of the year, as well. >> is it? >> yes. >> unfortunately we'll...
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gerri: coming up next, the fiscal cliff into plain english or maybe just simple arithmetic. at the bottom of the york, what should investors expect? will the fiscal ) as of them? don't go away. ♪ >> my new year's resolution is to keep going with my personal trainer. ♪ gerri: up next, some of those trillion dollar figures into perspective. the spending problem if it were your household budget. next. gerri: there is a reason we call this segment back of the envelope. we try to explain in plain english some of the more complicated financial issues. the big issue today, the fiscal cliff. and you may be asking yourself, why is this so important? what is so cataclysmic about our nation's finances that we need to implement these monster tax increases and make draconian spending cuts. well, if you want to understand the government and its problems, take a look at these numbers. let's start with tax revenue. these are the nation's tax revenues. what you have your is just over 2 trillion in income. that's all it is really. and look at these euros. a very big number. the spending i
gerri: coming up next, the fiscal cliff into plain english or maybe just simple arithmetic. at the bottom of the york, what should investors expect? will the fiscal ) as of them? don't go away. ♪ >> my new year's resolution is to keep going with my personal trainer. ♪ gerri: up next, some of those trillion dollar figures into perspective. the spending problem if it were your household budget. next. gerri: there is a reason we call this segment back of the envelope. we try to explain...
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cliff talks next week. >> time now to entertain this. it is official jessica simpson expecting another baby. the 32-year-old celebrity tweet add photo of her daughter sitting in front of a sign drawn in the sandwich says big sis. cute little girl isn't she? the announcement comes 7 months after giving birth to that little girl her first child. it has been a good year for hollywood 2012 marched through the industry's highest year on record for 1 billion in ticket sales. is rock and roll hazardous to your health? it might be. you to those playing it. researches in inge lantd studying more than 1500 musicians famous between 1956 and 2006. they found 137 of nthem or 9.2 percent of them were dead. that is a higher mortality rate than those in the general population. >> time to look at the sports stories new season but same results. lebr lebron james and the heat. suddenly the lashgs can't lose. 194 for the fourth straight win. they are back for 500 for the season. kobe bryant a record for the 16th christmas day game. heartwarming video of an
cliff talks next week. >> time now to entertain this. it is official jessica simpson expecting another baby. the 32-year-old celebrity tweet add photo of her daughter sitting in front of a sign drawn in the sandwich says big sis. cute little girl isn't she? the announcement comes 7 months after giving birth to that little girl her first child. it has been a good year for hollywood 2012 marched through the industry's highest year on record for 1 billion in ticket sales. is rock and roll...
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you'll find links and the latest over the battling turnover fiscal cliff. we'll see you here next week on "washington week." good night and happy new year. >> funding for "washington week" is provided by -- >> this rock has never stood still. since 1875 we've been there for our clients through good times and bad. when their needs changed, we were there to meet them. through the years from insurance to investment management, from real estate to retirement solutions, we've developed new ideas for the financial challenges ahead. this rock has never stood still. and that's one thing that will never change. prudential. corporate fund for "washington week" is provided by -- norfolk southern, boeing. additional funding for "washington week" is provided by the annenburg foundation. the corporation for public broadcasting, and by contributions to your pbs station from viewers like you. thank you. >> ♪ a-wimoweh a-wimoweh a-wimoweh a-wimoweh eee... ♪ >> join us for "the weavers: wasn't that a time" -- the award-winning classic film that documents the career of am
you'll find links and the latest over the battling turnover fiscal cliff. we'll see you here next week on "washington week." good night and happy new year. >> funding for "washington week" is provided by -- >> this rock has never stood still. since 1875 we've been there for our clients through good times and bad. when their needs changed, we were there to meet them. through the years from insurance to investment management, from real estate to retirement...
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congress to reach an agreement in the next 48 hours to avoid the so-called fiscal cliff. it's a term used to describe the expiry of tax cuts dating back to 2001. if there is no deal, 88% of americans will end up paying $400 billion more in 2014. that will be coupled with more than a trillion dollars in automatic government spending cuts. according to the congressional budget office it will start with $200 billion in military and social welfare cuts next year. the big concern over falling off the fiscal cliff is it will send the u.s. back into a recession with, of course, global repercussions. it could be weeks before anyone feels the effects. and analysts say even without an agreement, politicians can reach other deals to soften the impact. >> u.s. president barack obama making a rare appearance on one of u.s. tv's agenda-setting sunday shows. he appealed to politicians of both parties not to let the u.s. go off the so-called fiscal cliff. the budget crisis, some kay -- say could tip the u.s. into recession dragging the rest of the world with it. >> over the next 48 hours
congress to reach an agreement in the next 48 hours to avoid the so-called fiscal cliff. it's a term used to describe the expiry of tax cuts dating back to 2001. if there is no deal, 88% of americans will end up paying $400 billion more in 2014. that will be coupled with more than a trillion dollars in automatic government spending cuts. according to the congressional budget office it will start with $200 billion in military and social welfare cuts next year. the big concern over falling off...
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all over again. >> gregg: molly henneberg, molly thanks. >> arthel: mixed messages on fiscal cliff, next today. republican senator lindsay graham expressing optimism on deal and president obama is calling out lawmakers for rejecting offers for last month. >> what do you think the chances of a small deal in the less 48 hours to avoid the cliff? >> exceedingly good. i think what have we accomplished, a political vick for the president. the president has stood his ground. he is going to get tax rate increases but upper income americans and sad news for the country we have accomplished very little of not becoming greece. this won't affect the debt situation. it will be a political victory for the president and i hope we'll have the courage of our convictions when it comes time to raise the debt ceiling to fight for what we believe in. but hats off to the president. >> we have been talking to the republicans since the election has been over. they have had trouble to say yes to a number of repeated offers. >> so what kind of deal if any can we expect before the clock runs out? joining us
all over again. >> gregg: molly henneberg, molly thanks. >> arthel: mixed messages on fiscal cliff, next today. republican senator lindsay graham expressing optimism on deal and president obama is calling out lawmakers for rejecting offers for last month. >> what do you think the chances of a small deal in the less 48 hours to avoid the cliff? >> exceedingly good. i think what have we accomplished, a political vick for the president. the president has stood his ground....
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. >> the obvious question -- are we going over the fiscal cliff? >> well, i think we're going to find out in the next 48 hours what congress decides to do. but i think it's important for the american people to understand exactly what this fiscal cliff is. because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended and they're all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchases, which means businesses are going to have a lot less customers, which means that they're less likely to hire and the whole economy could slow down at a time when the economy is starting to pick up and we're seeing signs of recovery in housing and employment numbers improving. so what congress needs to do first and foremost, is to prevent taxes from going up for the vast majority of ameri
. >> the obvious question -- are we going over the fiscal cliff? >> well, i think we're going to find out in the next 48 hours what congress decides to do. but i think it's important for the american people to understand exactly what this fiscal cliff is. because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended and they're all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act,...
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"special report" is next with updates on the fiscal cliff negotiation from all of us here have. a safe and happy new year. >> bret: this is a fox news alert. i'm bret baier live in washington. here is what we can report four hours from 2013. the country will officially go over the so-called fiscal cliff tonight. congress will miss a midnight deadline. it was deadline politician in the nation's capitol set up to be so unappealing. so unacceptable that both sides would have to budge. both sides would have to come to a better, more balanced deficit and debt deal. it's hard to believe but that was almost two years ago. and now, with the clock winding down to the end of to 12, and the end of the fiscal cliff deadline, not a single piece of legislation has passed congress on this. at this hour, vice president biden is set to meet with senate democrats. you are looking live just outside of capitol hill there. we are waiting for his arrival. he will be meeting with senate democrats in hopes of ironing out a mini deal. is he actually trying to sell it to several key democratic senators w
"special report" is next with updates on the fiscal cliff negotiation from all of us here have. a safe and happy new year. >> bret: this is a fox news alert. i'm bret baier live in washington. here is what we can report four hours from 2013. the country will officially go over the so-called fiscal cliff tonight. congress will miss a midnight deadline. it was deadline politician in the nation's capitol set up to be so unappealing. so unacceptable that both sides would have to...
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. >> the obvious question -- are we going over the fiscal cliff? >> well, i think we're going to find out in the next 48 hours what congress decides to do. but i think it's important for the american people to understand exactly what this fiscal cliff is. because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended and they're all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchases, which means businesses are going to have a lot less customers, which means that they're less likely to hire and the whole economy could slow down at a time when the economy is starting to pick up and we're seeing signs of recovery in housing and employment numbers improving. so what congress needs to do first and foremost, is to prevent taxes from going up for the vast majority of ameri
. >> the obvious question -- are we going over the fiscal cliff? >> well, i think we're going to find out in the next 48 hours what congress decides to do. but i think it's important for the american people to understand exactly what this fiscal cliff is. because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended and they're all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act,...
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the question is if you go over the fiscal cliff immediately, next year you start with a lot more option for how to deal with it, rather than just a discussion of income levels. a million-dollar threshold or $250,000 threshold speaker which is what we are all talking about. >> that's exactly right. the travesty has been the line drawn, $250,000 and john boehner working his way towards that in terms of tax cuts. but then not coming to an agreement. it left all of the other areas out there that we haven't dealt with. medicare and other big entitlements. we still don't know the outlines of dealing with discretionary spending. as you said, all those other parts have been like left as we focus on this one fight, a fairly small part of it. heather: thank you for joining us, we will see what happens two hours from now we want washington is on high alert as new photos suggest north korea may be preparing for a nuclear test. we will have the latest on this developing story. heather: and american hero remembered today. storm in norman, the man who led us to victory in the first gulf war. >> i have
the question is if you go over the fiscal cliff immediately, next year you start with a lot more option for how to deal with it, rather than just a discussion of income levels. a million-dollar threshold or $250,000 threshold speaker which is what we are all talking about. >> that's exactly right. the travesty has been the line drawn, $250,000 and john boehner working his way towards that in terms of tax cuts. but then not coming to an agreement. it left all of the other areas out there...
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why this deal may not happen next. obviously a lot of attention tonight on the fiscal cliff. we're inside 30 hours until the expiration date on tax cuts. there are other important bits of business on capitol hill before the end of the year. in other words, in the next 30 hours or so. on friday, the senate approved a more than $60 billion bill to pay for construction costs for superstorm sandy. you see the video of that here. the house still needs to vote on that legislation. it isn't clear yet what the house is going to do. molly henneberg is live in d.c. there's a holdup in the house. what is it? >> the price tag. house republicans say it's too steep. a south carolina republican congressman said he and others want to help the people hurt by sandy but lawmakers need to figure out where the money's going to come from. >> it's not paid for. i know that's a difficult conversation to have but it's a necessary conversation. if we can't come together and figure out a way to stop spending someplace else to pay for this disaster, do we hope to be able to balance our budget and fix ou
why this deal may not happen next. obviously a lot of attention tonight on the fiscal cliff. we're inside 30 hours until the expiration date on tax cuts. there are other important bits of business on capitol hill before the end of the year. in other words, in the next 30 hours or so. on friday, the senate approved a more than $60 billion bill to pay for construction costs for superstorm sandy. you see the video of that here. the house still needs to vote on that legislation. it isn't clear yet...
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. >> the obvious question, are we going to go over the fiscal cliff? >> well, i think we'll find out in the next 48 hours what congress will decide to do. but i think it's important for the american people to understand exactly what this fiscal cliff is, because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended, and they are all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchases, which means businesses are going to have a lot less customers, which means that they are less likely to hire, and the whole economy could slow down at a time when the economy is actually starting to pick up. we are seeing signs of recovery in housing and in employment numbers improving. and so what congress needs to do, first and foremost, is to prevent taxes from going up for the vast maj
. >> the obvious question, are we going to go over the fiscal cliff? >> well, i think we'll find out in the next 48 hours what congress will decide to do. but i think it's important for the american people to understand exactly what this fiscal cliff is, because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended, and they are all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act,...
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. >> and this doesn't have to do anything with to do with fiscal cliff but there is news on hillary clinton? >> doctors have discovered a blood clot stemming from a concussion she sustained several weeks ago they are monitoring the medication they are over the next couple of days. >> i guess she won't be testifying in front of any senate committees. rich, live for us. we'll check in with you at 9:00 p.m. and update you on behind the scene negotiations. we're going to update how asian markets are trading with no deal here in the united states. so until 9:00 p.m. have a great day. you'd you would think that you'd want to havewa assets available within a certain distance of, bt places. but there is no sign anywhere that we would ask any help fromo neighboring countries, anyone else in the vicinity to help us at thattime. have puthese people in this situation ,-com,-com ma they have failed to connect the dots and failed to anticipate what was happening and once th attack began, there was something they could do immediately, but have they responded immediately, might have prented the deatthat oc
. >> and this doesn't have to do anything with to do with fiscal cliff but there is news on hillary clinton? >> doctors have discovered a blood clot stemming from a concussion she sustained several weeks ago they are monitoring the medication they are over the next couple of days. >> i guess she won't be testifying in front of any senate committees. rich, live for us. we'll check in with you at 9:00 p.m. and update you on behind the scene negotiations. we're going to update...
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parliament's year end review and negotiations following the fiscal cliff. >> tomorrow >> tomorrow and "washington journal" the fix the debt campaign, a ball by the teacher of special operations with linda robinson with the council on correlation -- foreign relations. >> next, bbc parliament's westminster review takes a look back at all the major reviews. the debates with the prime minister on the british economy and the european union budget. the british parliament is in recess for the holidays. members return on january 7th. >> hello there. and welcome to the west minister review. our look back at the big events in parliament over the last three months. coming up in this program, the chancellor delivers the latest bleak economic view? his budget. david cameron's bench urges him to stand up to europe. >> i support absolutely. >> the ugly specter of child abuse hits the deadlines with some dramatic consequences. lord justin levisohn delivers his plan on press standards. >> we should be wary of any legislation that has the potential to infringe free speech and a free press. >> the queen
parliament's year end review and negotiations following the fiscal cliff. >> tomorrow >> tomorrow and "washington journal" the fix the debt campaign, a ball by the teacher of special operations with linda robinson with the council on correlation -- foreign relations. >> next, bbc parliament's westminster review takes a look back at all the major reviews. the debates with the prime minister on the british economy and the european union budget. the british parliament...
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. >> well, up next, how will wall street react if we go off the fiscal cliff? we'll check in with cnbc. >>> plus, who's the most admired woman and man in the world today? we'll tell you who tops gallup's analyst. it is just one of the things we thought you should know. be sure to check out the "news nation" tumblr pictures. really, we went with that one? [ male announcer ] kids grow up in no time... marie callender's turkey breast with stuffing is a great reason to slow down. creamy mash potatoes, homestyle gravy and 320 calories. marie callender's. it's time to savor. mommy's having a french fry. yes she is, yes she is. [ bop ] [ male announcer ] could've had a v8. 100% vegetable juice, with three of your daily vegetable servings in every little bottle. >>> the potential agreement that's being talked about would not only make sure the taxes don't go up on middle class families. it also would extend tax credits for families with children. it would extend our tuition tax credit that's helped millions of families pay for college. it would extend tax credits for c
. >> well, up next, how will wall street react if we go off the fiscal cliff? we'll check in with cnbc. >>> plus, who's the most admired woman and man in the world today? we'll tell you who tops gallup's analyst. it is just one of the things we thought you should know. be sure to check out the "news nation" tumblr pictures. really, we went with that one? [ male announcer ] kids grow up in no time... marie callender's turkey breast with stuffing is a great reason to slow...
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, grabbing the rail as we slide toward the fiscal cliff. we'll ask our sunday panel about the president's latest plan to take some of the pain out of going over the brink. will the gop sign on? sometimes life can be well, a little uncomfortable. but when it's hard or hurts to go to the bathroom, there's dulcolax stool softener. dulcolax stool softener doesn't make you go, it just makes it easier to go. dulcolax stool softener. make yourself comfortable. >> chris: call me a hopeless optimist but i actually still think we can get it done. >> how we get there, god only knows. >> chris: the president and speaker boehner still looking for some way to cushion the blow of going over the fiscal cliff. time for our sunday group. bill kristol of the weekly standard. kirsten powers. laura ingraham and fox news political analyst juan williams. >> this week one gave me a new way to think of the way we are accumulating the huge national debt. it is interesting. under president obama the debt increased $5.7 trillion. the estimated cost of recovery from hu
, grabbing the rail as we slide toward the fiscal cliff. we'll ask our sunday panel about the president's latest plan to take some of the pain out of going over the brink. will the gop sign on? sometimes life can be well, a little uncomfortable. but when it's hard or hurts to go to the bathroom, there's dulcolax stool softener. dulcolax stool softener doesn't make you go, it just makes it easier to go. dulcolax stool softener. make yourself comfortable. >> chris: call me a hopeless...
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capitol hill stall to avert falling over the fiscal cliff. senate leaders need to put something together to avoid tax increases for just about everyone and big spending cuts. a make or break deal comes down to a few lawmakers on the topic of taxes on the wealthy. >> it remains to be scene whether the republicans being driven by a very extreme group of house members will allow our economy to pert because of their desire to protect multimillionaires in this country. that's what it's going to boil down to. republican representative tom cole says he's confident that bainer can get the votes he needs. >> on the speaker's plan, he had over 200 republican votes, it's not as if he had an awfully strong hand to play, if it's a deal john boehner can accept, it will be passed in a bipartisan manner with a very strong majority. if on the other hand he's neutral and not favorable, his chances will be a lot slimmer. >> lisa desjardins following the news on capitol hill. >> reporter: the news is a little better than it was earlier today. negotiations are st
capitol hill stall to avert falling over the fiscal cliff. senate leaders need to put something together to avoid tax increases for just about everyone and big spending cuts. a make or break deal comes down to a few lawmakers on the topic of taxes on the wealthy. >> it remains to be scene whether the republicans being driven by a very extreme group of house members will allow our economy to pert because of their desire to protect multimillionaires in this country. that's what it's going...
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they avoid the fiscal cliff. we are talking about over $607 billion worth of money taken out of the economy next year. lou: i just want to put up the next cartoon that we have. it matters not whih one you select. but this is one of my favorites. the debt commission saying it is very difficult. is very complicated and then cut spending. i don't think you could have cut better on to the essence of the issue. the absurdity creating obstacles to that relution in washington d.c. >> but the problem here is that frankly there is a fine and out of capital that can be used up their divided either in the private sector which creates businesses and jobs and federal revenue or given to the government which is just a bureaucracy ad creates nothing but burearatic management if you look at the lt gop congress andthe expenditures, about two and half trillion dollars and now the president's proposals are about 4 trillion in spending with deficits and increased. it is the economy. lou: it truly is. and i want to also if we may put
they avoid the fiscal cliff. we are talking about over $607 billion worth of money taken out of the economy next year. lou: i just want to put up the next cartoon that we have. it matters not whih one you select. but this is one of my favorites. the debt commission saying it is very difficult. is very complicated and then cut spending. i don't think you could have cut better on to the essence of the issue. the absurdity creating obstacles to that relution in washington d.c. >> but the...
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if congress does reach a small deal on taxes before the fiscal cliff deadlines up, their next fight over the dead ceiling will be queued up and ready to go. whether or not we go over the fiscal cliff tomorrow night, a political stand-off over the debt ceiling is imminent. joining us sort through all of this current and future fiscal crises is ezra klein. at "the washington post" as well as columnist for bloomberg view. thanks for joining us. you addressed the issue of what happens next, i saw you on rachel's show friday. your theory are it's key to how the fiscal cliff plays out. explain. >> there's a significant difference of opinion in the political ramification of what happens if we go over and it comes down debt ceiling. if we go over the fiscal cliff they have all of the leverage because we'll go into the debt ceiling and it will be just like 2011 again. they'll say we're not going to raise the debt ceiling unless you cut entitlements, barack obama will say no and terrified of consequences of national default he'll say yes. so they'll get all of the entitlement cuts with no tax incr
if congress does reach a small deal on taxes before the fiscal cliff deadlines up, their next fight over the dead ceiling will be queued up and ready to go. whether or not we go over the fiscal cliff tomorrow night, a political stand-off over the debt ceiling is imminent. joining us sort through all of this current and future fiscal crises is ezra klein. at "the washington post" as well as columnist for bloomberg view. thanks for joining us. you addressed the issue of what happens...
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we will get the next report next week for december and we hope the fiscal cliff does not thwart this but the underlying health of the economy is as good as its has been, do you agree, the laugh year or two? >>guest: well, it has been a bad one or two years, so, yes, if you look at it, i agree, it is half full. the glass needs to be a lot more full to keep stocks up at this level. >> we do not want to get ahead of ourselves and i was trying to be bullish on the economy because economists are looking for a downgrade next quarter at 2 percent growth but we have to go back to what happened after tarp, there was so much commotion and people were so concerned about that and the markets sold off and they sold off deeper but came back big. >>guest: over a series of years from 6,000 to 10,000 in the dow over a month and it took several years to get back. we have extended unemployment benefits for yet another year. we are barely bumping across the bottom and the great thing of our stock market we have companies representing america around the world so caterpillar was up big. we do not want to
we will get the next report next week for december and we hope the fiscal cliff does not thwart this but the underlying health of the economy is as good as its has been, do you agree, the laugh year or two? >>guest: well, it has been a bad one or two years, so, yes, if you look at it, i agree, it is half full. the glass needs to be a lot more full to keep stocks up at this level. >> we do not want to get ahead of ourselves and i was trying to be bullish on the economy because...
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Dec 26, 2012
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cliff and their plans for the next year. we will continue with the forecast of the coming years housing market with lawrence yun, followed by more discussion of the fiscal cliff negotiations as congress returns to washington. we are joined by steve forbes. later, a discussion on background checks, how they work, who gets them, and when they are required. our guest is matt denn it. washington journal live at 7:00 a.m. eastern on c-span. >> i just enjoy that it is straight forward, comprehensive, and you can really sense what is happening without a pundit interjecting, and that is what i really appreciate about c-span. it is definitely a great resource for anyone looking to become more familiar with how government works and the ins and outs of capitol hill. >> c-span, created by america's cable companies in 1979. brought to you as a public service by your television provider. >> now, state and defense department officials testified at a hearing on violence in the eastern congo. a rebel group of congolese army defectors has bee
cliff and their plans for the next year. we will continue with the forecast of the coming years housing market with lawrence yun, followed by more discussion of the fiscal cliff negotiations as congress returns to washington. we are joined by steve forbes. later, a discussion on background checks, how they work, who gets them, and when they are required. our guest is matt denn it. washington journal live at 7:00 a.m. eastern on c-span. >> i just enjoy that it is straight forward,...
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is, is going over that so-called fiscal cliff. we'll see what happens over the next few hours. tom foreman, thank you. much more on the fiscal cliff coming up. >>> there are serious ramifications for almost every american involved in this negotiati negotiation. we'll update when when we come back. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >>> okay, we've got the breaking news we're following here in washington. we've been thinking about it. we've been talking about it for a long time. guess what, the united states is now going over the so-called fiscal cliff. that's becau
is, is going over that so-called fiscal cliff. we'll see what happens over the next few hours. tom foreman, thank you. much more on the fiscal cliff coming up. >>> there are serious ramifications for almost every american involved in this negotiati negotiation. we'll update when when we come back. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and...
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on top of the fiscal cliff, there is the milk cliff, which could add to the weekly shopping bill in a big way. early next year, fight about raising the debt ceiling. after the scathing report on september 11 attack in benghazi, libbia, we thought that four mid-level government workers had taken the fall for the security failures at the state department. it turns out that is far from the case. we'll explain. it's been a year since the tornado flattened their church. but only now can the rebuilding begin. all because of red tape. grapevine, why being too attractive cost a woman her job. "special report" from washington starts at 6:00 p.m. eastern. now back to new york and "the five." ♪ ♪ >> welcome back to "the five." shop in saint paul has been warned to stop selling candy smokes with bubble gum cigars after they are trying to prevent kids from trying the real stuff one day. does anyone want to tie it throt is a nexus between candy cigarettes and bubble gum cigars and taking up smoking? any takers? smokers amongst us? >> greg: this research is created to prove the point researchers
on top of the fiscal cliff, there is the milk cliff, which could add to the weekly shopping bill in a big way. early next year, fight about raising the debt ceiling. after the scathing report on september 11 attack in benghazi, libbia, we thought that four mid-level government workers had taken the fall for the security failures at the state department. it turns out that is far from the case. we'll explain. it's been a year since the tornado flattened their church. but only now can the...
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>> well, it -- what you heard from both of them is it avoids the worst aspects of the fiscal cliff which is a tax increase for almost every american but in terms of addressing as you say the huge $16 trillion and growing debt over the next decade, it means almost nothing. in fact, if you look at what is going to be raised is $600 billion, $600 billion to $800 billion in revenue by raising the tax rates. in an economy where we are talking about a $16 trillion debt that is going to grow to 18 or are $20 trillion the next ten years it does nothing to address that and as lindsey graham said the only chance that republicans have to really deal with entitlements which are the main drivers of our debt but also other spending programs is to really dig in as he said, have the courage of their convictions when it many coulds to raising the debt ceiling which is going to come in about two months so we won't have long to wait to see that battle. >> you have been an observer of washington for a long time. do you think there will be a deal. getting down to working tonight or working overnight and then
>> well, it -- what you heard from both of them is it avoids the worst aspects of the fiscal cliff which is a tax increase for almost every american but in terms of addressing as you say the huge $16 trillion and growing debt over the next decade, it means almost nothing. in fact, if you look at what is going to be raised is $600 billion, $600 billion to $800 billion in revenue by raising the tax rates. in an economy where we are talking about a $16 trillion debt that is going to grow to...
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the result, find out next. >> bret: no grapevine. top story, fiscal cliff is going over it. the senate majority leader, not moved the bill to the senate floor yet. the house would only deal with whatever passed the senate. if it passed the senate at all. all indications are the house will not vote on any fiscal cliff legislation tonight. here is how the potential deal stacks up. they will be taxed at 39.6%. up from 35%. tax on capital gain and individuals for $400,000 for individuals would increase to 20%. from 15%. the alternative minimum tax is permanently indexed to inflation. it has been annual patch. that would be permanent. the plan extent the child tax red earned income tax credit. up to $2,500 tax credit for collision tuition. unemployment benefit are extented for one year. same for the medicare doc fix and the social security payroll tax cut. reverse to rate of 6.2%. those are the deals as they stand right now. although things are developing and they could change. those looking to europe for inspir ration and coming up with american tax rates that target the rich ma
the result, find out next. >> bret: no grapevine. top story, fiscal cliff is going over it. the senate majority leader, not moved the bill to the senate floor yet. the house would only deal with whatever passed the senate. if it passed the senate at all. all indications are the house will not vote on any fiscal cliff legislation tonight. here is how the potential deal stacks up. they will be taxed at 39.6%. up from 35%. tax on capital gain and individuals for $400,000 for individuals...
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the fiscal cliff could throw all its gains next year. the lauren fix, known as the car coach is here to explain why and one of my favorite topics, cars. do you think lauren can name this beautiful automobile? we'll giver her a test. what kind of car is that and test her automobile chops next. and test her's as well. is now the time to put your house on the market. top real estate expert says, yes. she is here with details. we'll challenger. we awaiting president obama. he will take the podium in a matter of minutes and will bring you a statement on the fiscal cliff live. "piles of money" is on the way. ♪ she keeps you guessing. it's part of what you love about her. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all yo
the fiscal cliff could throw all its gains next year. the lauren fix, known as the car coach is here to explain why and one of my favorite topics, cars. do you think lauren can name this beautiful automobile? we'll giver her a test. what kind of car is that and test her automobile chops next. and test her's as well. is now the time to put your house on the market. top real estate expert says, yes. she is here with details. we'll challenger. we awaiting president obama. he will take the podium...
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up next, just over 24-hours from now if we goefr the fiscal cliff, who should we blame? re, ♪ ♪ >> this country is about to take a plunge over the fiscal cliff. who is really to blame? watcjomg this one. >> president has a decision to make. he can support these measures or be responsible for reckless spending and the largest tax hike in american history. >> the republicans in the house have decide to do rundown an alley that has no exit. >> republicans aren't about to write a blank check or anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> every time we come to a solution it was a year and a half ago in the summer right now the republicans walk away. >> don't automatically assume the president wants to cut a deal. i think he wants to wait to see if he gets blamed for it before he starts really negotiating. >> nobody can get 100 percent of what they want. this is not a contest between parties in terms of who looks good and who doesn't. >>> the real consequences to what we do. >> fox news contributor and democratic pollst
up next, just over 24-hours from now if we goefr the fiscal cliff, who should we blame? re, ♪ ♪ >> this country is about to take a plunge over the fiscal cliff. who is really to blame? watcjomg this one. >> president has a decision to make. he can support these measures or be responsible for reckless spending and the largest tax hike in american history. >> the republicans in the house have decide to do rundown an alley that has no exit. >> republicans aren't about...
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the fiscal cliff could throw all its gains next year. the lauren fix, known as the car coach is here to explain why and one of my favorite topics, cars. do you think lauren can name this beautiful automobile? we'll giver her a test. what kind of car is that and test her automobile chops next. and test her's as well. is now the time to put your house on the market. top real estate expert says, yes. she is here with details. we'll challenger. we awaiting president obama. he will take the podium in a matter of minutes and will bring you a statement on the fiscal cliff live. "piles of money" is on the way. ♪ adam: we've got a live picture for you of the white house briefing room. president obama is going to make comments about the fiscal cliff at 4: -- 5 len 45 eastern, we'll take them live on the fox business network. >>> auto industry is heading toward the best year since 2007, great news for sure but the fiscal cliff, believe it or not threatens to run the them off the road. heres we details, lauren fix. crew tells me they will give me
the fiscal cliff could throw all its gains next year. the lauren fix, known as the car coach is here to explain why and one of my favorite topics, cars. do you think lauren can name this beautiful automobile? we'll giver her a test. what kind of car is that and test her automobile chops next. and test her's as well. is now the time to put your house on the market. top real estate expert says, yes. she is here with details. we'll challenger. we awaiting president obama. he will take the podium...
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up next, just over 24-hours from now if we goefr the fiscal cliff, who should we blame? okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. there is no plan. really? [ male announcer ] the united mileageplus explorer card. the mileage card with speci perks on united. get it and you're in. i wish i could keep it this way. [ male announcer ] now you can. with the crest pro-health clinical line. used together, they help keep your teeth 97% as clean as a dental cleaning. the toothpaste actually reduces plaque. and the rinse reaches all areas and is clinically proven to help prevent plaque regrowth. crest pro-health clinical line. together, they help keep your teeth 97% as clean as a dental cleaning. crest. life opens up when you do. ♪ >> this country is about to take a plunge over the fiscal cliff. who is real
up next, just over 24-hours from now if we goefr the fiscal cliff, who should we blame? okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. there is no plan. really? [ male announcer ] the united mileageplus explorer card. the...
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that's next. and in two minutes, a solution to the fiscal cliff may be brewing. but wait until you hear where the latest push is coming from. you will be surprised. stay with us. two minutes away. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ they don't help single moms. hi! hi! [ sarah ] what happened to our house last year? [ daughters ] it flooded and the water flooded out. yeah. [ sarah ] the red cross arranged the hotel for us. they gave me that break, that leverage, to be able to get it together and take care of them. you know? i feel like we've come full circle. [ daughter 1 ] like that! [ daughter 2 ] this is how i'll do it. [ sarah ] there you go. >> starbucks sending a strong message to lawmakers who can't seem to compromise to avoid the fiscal cliff. employees are writing the word "come together" on company's coffee cups. starbucks said it's a message to l
that's next. and in two minutes, a solution to the fiscal cliff may be brewing. but wait until you hear where the latest push is coming from. you will be surprised. stay with us. two minutes away. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ they don't help single moms. hi! hi! [ sarah ] what...
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that's up next. >>> new developments in the fiscal cliff fight, and we are live on capitol hill as we now await action in the house of representatives on the senate bill which passed pretty overwhelmingly. eric cantor now saying he opposes that bill. this is -- this as house democrats got a visit from mitch mcconnell and hammered out this deal. brett joins us now. how significant that cantor came out against this? >> good afternoon. it is very significant he said publicly that he opposes the senate bill. the real question is whether as house majority leader that he will be with other voters voting against a piece of legislation that hits the floor, or whether it moves to the floor at all. you heard the democratic leader, nancy pelosi, come out calling for an up or down vote as soon as possible. we don't know the plan for republicans. we are just getting word from the speaker's spokesperson saying there will be conversations throughout the afternoon suggesting this could take some time after the house gop caucus meeting we are told by reporters and producers up there that members were
that's up next. >>> new developments in the fiscal cliff fight, and we are live on capitol hill as we now await action in the house of representatives on the senate bill which passed pretty overwhelmingly. eric cantor now saying he opposes that bill. this is -- this as house democrats got a visit from mitch mcconnell and hammered out this deal. brett joins us now. how significant that cantor came out against this? >> good afternoon. it is very significant he said publicly that he...
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next on the run down do both parties actually want to go over the fiscal cliff to save political face? we'll debate it the state department officials out of their jobs after the benghazi terrorist attack are reportedly still on the payroll. we have details moments away. >> greg: continuing with top story tonight. with days to go. both parties want it to go over the fiscal cliff in order to save face politically and strike a deal next month. will that be too late? alex stewart a republican stat gist and here in studio my favorite juan, juan williams a fox news contributor. aren't the consequences of going off the fiscal cliff all that's miss something vegan lunches. you must be giddy about going over the cliff. not me i don't want to go over the cliff. i think, you know what? i have investments. i work for a living. guess what? it would be absolutely traumatic for the global economy and recession not in the midst of a strong recovery. it's pretty weak. i don't think it's good news for anybody. this is something that the press doesn't pay attention to, greg. i think if obama to start a
next on the run down do both parties actually want to go over the fiscal cliff to save political face? we'll debate it the state department officials out of their jobs after the benghazi terrorist attack are reportedly still on the payroll. we have details moments away. >> greg: continuing with top story tonight. with days to go. both parties want it to go over the fiscal cliff in order to save face politically and strike a deal next month. will that be too late? alex stewart a republican...